Shares of Hormel Foods Corp (NYSE:HRL) gapped down before the market opened on Tuesday . The stock had previously closed at $41.98, but opened at $40.43. Hormel Foods shares last traded at $39.24, with a volume of 6188486 shares changing hands.

HRL has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Thursday, February 28th. Stephens initiated coverage on shares of Hormel Foods in a research report on Monday, March 4th. They set an “equal weight” rating on the stock. Credit Suisse Group restated a “hold” rating and set a $39.00 price target on shares of Hormel Foods in a research report on Thursday, February 21st. Jefferies Financial Group restated a “hold” rating and set a $44.00 price target on shares of Hormel Foods in a research report on Thursday, February 21st. Finally, ValuEngine lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $40.20.

The stock has a market cap of $21.11 billion, a PE ratio of 20.76, a PEG ratio of 2.66 and a beta of 0.19. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04.

Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, February 21st. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. Hormel Foods had a net margin of 9.93% and a return on equity of 17.58%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts expect that Hormel Foods Corp will post 1.82 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $0.21 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.14%. Hormel Foods’s dividend payout ratio (DPR) is 44.44%.

In other news, Director Glenn S. Forbes sold 4,695 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $43.00, for a total value of $201,885.00. Following the transaction, the director now directly owns 49,481 shares of the company’s stock, valued at $2,127,683. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elsa A. Murano sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $42.13, for a total transaction of $189,585.00. Following the completion of the transaction, the director now directly owns 101,067 shares in the company, valued at $4,257,952.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 274,705 shares of company stock worth $12,116,336. Company insiders own 1.11% of the company’s stock.

Large investors have recently bought and sold shares of the company. Enlightenment Research LLC purchased a new position in shares of Hormel Foods in the fourth quarter worth about $30,000. Acima Private Wealth LLC purchased a new position in shares of Hormel Foods in the fourth quarter worth about $34,000. Bremer Trust National Association purchased a new position in shares of Hormel Foods in the fourth quarter worth about $43,000. We Are One Seven LLC purchased a new position in shares of Hormel Foods in the fourth quarter worth about $45,000. Finally, FTB Advisors Inc. lifted its stake in shares of Hormel Foods by 62.7% in the fourth quarter. FTB Advisors Inc. now owns 1,124 shares of the company’s stock worth $48,000 after buying an additional 433 shares in the last quarter. 43.49% of the stock is currently owned by hedge funds and other institutional investors.

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About Hormel Foods (NYSE:HRL)

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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